Cardano, the open-source blockchain platform, is on the cusp of a major transition with the upcoming Chang fork, marking the first hard fork in its final era of development known as Voltaire. This milestone will introduce community-run governance and on-chain consensus, paving the way for a more decentralized ecosystem.
The Significance of the Chang Fork
Charles Hoskinson, creator of Cardano, announced on June 9 that the blockchain is ready for the Chang fork, which is expected to occur soon after 70% of stake pool operators (SPO) install the new node, Cardano Node version 9.0. This upgrade is a crucial step towards pushing Cardano into the Age of Voltaire.
Voltaire: The Final Era of Cardano’s Roadmap
Cardano’s development is divided into eras, each named after notable figures in poetry and computer science, such as Lord Byron, Percy Bysshe Shelley, Joseph Goguen, Matsuo Bashō, and Voltaire. Each phase has introduced significant advancements:
- Byron: Implemented the basic blockchain.
- Shelley: Focused on decentralization.
- Goguen: Introduced smart contracts.
- Basho: Aimed at scaling the blockchain.
- Voltaire: Will add governance, voting, and treasury management functionality.
Community Governance and On-Chain Consensus
The Chang fork, named in honor of Phil Chang, an early leader in Cardano governance who passed away in 2022, will be the first hard fork in the Voltaire era. It will enable community-run governance by allowing Cardano holders to use their tokens to vote on proposals and participate in decision-making processes.
Hoskinson’s Vision for a Decentralized Civilization
Hoskinson describes the Chang fork as the “most significant milestone in the history of Cardano.” He believes this upgrade will help Cardano create a “decentralized civilization spanning the entire world with millions of residents.” He anticipates that with Chang, Cardano will have the “most advanced blockchain governance system,” complete with annual budgets, a treasury, and valuable community insights.
Also Read: Cardano’s founder Floats Bitcoin Cash Integration Idea in X Poll
“It’s been nearly 10 years for some of us on this remarkable journey. I can’t believe that in a single decade, we built a nation. I’m proud of all of you. Cardano gives me hope for our industry and the world. Let’s spend the next decade making a big dent in the universe,” Hoskinson stated.
Cardano’s ADA Cryptocurrency Performance
Despite the excitement surrounding the upcoming hard fork, Cardano’s ADA cryptocurrency has experienced a notable decline in 2024. Since January 1, ADA has plummeted more than 26%, from around $0.60 to $0.44 at the time of writing, according to CoinGecko data.
